Gold, silver, pgms, mining and geopolitical comment and news

According to the latest GFMS Q4 Gold update and survey, the top 10 gold producing nations for 2015 were as follows (the figures are estimats so the total production figures may yet be subject to adjustment as further data comes in):

Top 10 Gold Producing Nations (tonnes) – 2015 (Estimated) (GFMS)

Rank

Country

2014

2015 E

Change YOY

1.

China

447.8

456.5

+2%

2.

Australia

274.0

277.0

+1%

3.

Russia

262.2

256.7

-2%

4.

USA

209.2

213.8

+2%

5.

Peru

173.0

173.3

0%

6.

Canada

151.2

152.1

+1%

7.

South Africa

163.7

148.9

-9%

8.

Indonesia

116.4

133.6

+15%

9.

Mexico

117.8

123.4

+5%

10.

Ghana

107.4

94.5

-12%

Rest of World

1096.7

1096.3

0%

Global Total

3119.4

3126.2

0%

Source: GFMS, Thomson Reuters

While the figures show that global gold production increased again in 2015, it was only by an almost infinitesmal 0.2% and the precious metals consultancy saw a significant downturn beginning in Q4 and reckons the trend towards lower global new mined gold output has at last started to kick in, and that this trend will continue. This suggests that Peak Gold may well have been reached in Q3 2015. To read more on this click on World’s Top 10 Gold producers – Peak Gold already here?